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Gold Summary for March 28, 2023

2023-03-28 18:26 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold regained $15.40 to $1,971.70 on Tuesday. The TSX Venture Exchange rose as well, adding 10.27 points to 620.59 while the TSX gold index managed a 4.77-point gain, closing at 309.10. Most Canadian gold miners gained ground. Karora Resources Inc. (KRR), headlong in retreat yesterday, led today's counterattack, adding 26 cents to $4.65 on 1.17 million shares. It had plenty of company. SSR Mining Inc. (SSRM) rose 70 cents to $20.66 on 786,000 shares, and Oceanagold Corp. (OGC) added 15 cents to $3.43 on 4.06 million shares. Oceanagold has been a brisk mover many a day of late, and it has had more ups than downs since it traded at $1.78 in mid-November.

Quentin Yarie's Red Pine Exploration Inc. (RPX) closed unchanged at 21 cents on 97,000 shares on word it has drilled a 25.15-metre interval averaging 3.5 grams of gold per tonne at its Wawa gold project in Northern Ontario. The interval came with visible gold, the company cheered, or at least a one-metre interval averaging 73 grams per tonne did, without which the remaining 24.15 metres averaged a paltry 0.62 gram per tonne. In fact, minus a three-metre interval that ran 2.66 grams per tonne, the other 21.15 metres contained barely 0.33 gram of gold per tonne.

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